Apex exporters body FIEO on Tuesday expressed serious concerns over high US tariffs on Indian goods and said that textiles and apparel manufacturers in Tirupur, Noida, and Surat have halted production amid worsening cost competitiveness due to these steep duties.
Equity benchmark index Sensex tumbled 849 points to slip below the 81,000 level on Tuesday due to widespread selling pressure after the US issued a draft notice over the implementation of an additional 25 per cent tariff on Indian products.
‘We have created massive infrastructure in the past six years.’ IMAGE: Goa Chief Minister Pramod Sawant addresses the Atal Asra Camp, an initiative to provide secure housing solutions for marginalised communities, offering support for home repairs, renovations, and new housing
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official
Global travel tech firm OYO plans to file its Draft Red Herring Prospectus (DRHP) in November, eyeing a $7-8 billion valuation for its IPO, sources said. Photograph: Anushree Fadnavis/Reuters The company is expected to approach its board with the proposal
Fitch Ratings on Monday affirmed India’s sovereign rating at ‘BBB-‘, with a stable outlook, saying a strong record of delivering growth and improving fiscal credibility will drive improvements in structural metrics. Photograph: Anushree Fadnavis/Reuters “India’s ratings are supported by its
‘We will be able to anticipate the full picture of the impact after August, which is also the time when demand for a year begins to peak ahead of the December holidays and Valentine’s Day.’ IMAGE: Estimates of job losses
After the State Bank of India, Bank of India has classified the loan account of insolvent Reliance Communications as fraudulent and named its former director, tycoon Anil Ambani, citing alleged fund diversion in 2016, according to a regulatory filing. Photograph:
Indication of a potential US Federal Reserve rate cut may trigger optimism in the domestic equity market, with investors’ attention shifting to the looming deadline for additional US tariffs on Indian goods in a holiday-shortened week ahead, analysts said. Illustration:
Gold prices are likely to remain in a consolidation phase in the near term, but the overall bias will continue to stay positive amid heightened expectations of a US Federal Reserve rate cut in its September policy meeting, analysts said.
